Journal Article

Market participation, self-respect, and risk tolerance


How important is the experience of risk in business endeavors for self-respect and moral development? Tomasi prompts this question with his attempt to reconcile Rawls’s theory of justice as fairness with free-market capitalism, by claiming that economic activity is a way for people to exercise their autonomy, responsibility, and self-authorship, including through voluntary risk-taking. Critics argue that the social environment generated through market institutions is ill-suited for developing a sense of responsibility and autonomy among citizens. We refine the case for economic liberty by looking at the link between risk-taking and attitudes toward democratic citizenship. We highlight the critical role of ethical business practice as a contributor to the stability of liberal-democratic societies.

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Cordasco, Carlo Ludovico
Cowen, Nick

Oxford Brookes departments

Oxford Brookes Business School


Year of publication: 2023
Date of RADAR deposit: 2023-03-27

Creative Commons License This work is licensed under a Creative Commons Attribution 4.0 International License

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